Nykaa highlights significance of vertical commerce at AGM

Multi-brand beauty giant Nykaa’s parent company FSN E-Commerce Ventures Limited highlighted the significance of vertical commerce at its Annual General Meeting on September 18. The omni-channel business reported that over 15 million customers transacted across its platforms in the last year.

“Today, millions of consumers interact with us billions of times in a year across touch-points and across our platforms,” said Nykaa’s CEO, managing director, and chairperson, Indian Retailer Bureau reported. “With the rapidly evolving power of personalisation, we are excited about how we will reshape discovery, browsing, and shopping journeys– while tailoring for and catering to the specific needs of every individual consumer.”
 
The business’ 12th AGM to date saw Nayar share her optimism for growth in the Indian fashion and beauty industries. The business reported around two billion annual website visits and has served over 33 million customers, reporting a 30% market share in the online beauty segment.
 
“I am a big believer in vertical e-commerce, and both beauty and fashion are categories which are about building aspiration, driving education, and facilitating the right discovery needed to drive inspiration and purchase,” said Nayar.
 
Nykaa continues to expand its Indian and international brand selection and now houses over 6,700 brands across its platforms, it shared at the AGM. The business has also expanded its supply chain to count 44 warehouses across India compared to 18 warehouses in the 2021 financial year. This has enabled Nykaa to reduce its order fulfilment costs by 19% and its order-to-delivery times by an average of 18%.